Which one of the following is not a control activity implemented in most accounting systems?
a. Segregation of duties.
b. Competent, trustworthy employees.
c. Authorization procedures.
d. All of these activities are normally implemented.
d
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A firm purchased bonds to be classified as an investment in securities available-for-sale. The bonds were purchased at a premium. Assume the market price of the bond is volatile. Given these facts, which of the following is correct?
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